Running a nonprofit is one of the most intense things you can do. But, unfortunately, a slight mistake can lead to financial turmoil for yourself and your employees and can lead to trouble with the federal government.
Fortunately, there are ways to manage your grants safely and ensure that your paperwork is in order and safely organized to avoid problems. If you have trouble managing grants, these are the top five benefits of a good grants management system.
1 All Information Is Organized and In One Place
The most important thing about good grants management software is that all information is stored in one place. The average nonprofit has multiple streams of income that allow for it to keep running.
Unfortunately, this can mean that many grants need to be paid attention to, and a lot of information has to be stored intuitively to use and access. Management software, conversely, is built to contain, organize, and display this information as quickly as possible.
2 Better Organization to Show Future Grant Givers
One of the most important things you need to be able to gain a grant is trust. Without trust, no company or government entity will want to hand you money because you’ll be a significant risk.
Keeping your information well organized and easy to access shows that you keep it up to date, that your brand is collected, and that you take your nonprofit seriously. Simply producing whatever paperwork or information they need as quickly as possible can vastly improve many nonprofits.
3 Manage Grants and Changes From Start to Finish
Grants may change depending on who you’re receiving it through and what the terms and conditions are for it. Instead of worrying about this, you can update the software’s information as soon as you know so that it’s ready to keep working with you.
Of course, like any computer program, it’s only as good as the information it’s given: you can invest the time to provide it with the correct information.
Over time this will ensure that your software stays ahead of the curve and can help you keep up to date on what’s going on with your grants and what’s changing.
4 Allows You To Create Reports for Board Meetings
Making reports for meetings, especially after changes or shifts within the company, can be stressful if done poorly. An excellent grant management software will aid you in creating and printing reports so that you’re ready for these meetings.
This will make you seem more prepared and professional and take a lot of stress off your shoulders.
5 Better Results for Current Clients
Whatever your current clients know about your company: you can improve their opinion by working through fantastic grant management software. If you’ve stumbled before, this can help you regain your footing and their faith in you.
Although most grants don’t have to be repaid, it’s still a good idea to show how their investment in your company is paying off and what it’s doing to build into your service or product.